NICE Actimize, a NICE business and a provider of a single financial crime, risk, and compliance software platform for the financial services industry, has launched two new product solutions that enhance its alert and case management suite of solutions with end-to-end investigation process tools.
Both new solutions work to enable efficiency gains within financial crime and compliance operations. The Actimize Quality Assurance solution creates a real-time connection between risk and compliance and quality teams.
By unifying investigations and quality assurance processes on one platform, the solution provides a closed-loop investigation process, leading to more accurate investigations and lower error rates. This means that financial services organizations can lower the cost of compliance and optimize their operations.
The Actimize Productivity Studio solution offers a new way to gauge and address operational risk. It measures team and individual performance, as well as metrics pertaining to business processes, so that financial services organizations can optimize their operations across jurisdictions, geographies, and teams.
Utilizing this data, the solution allows users to tune workflows. Additionally, the solution includes operational analytics which have a twofold mission: they can be utilized by managers to see and address anomalies in their teams’ work, and they can be used by analysts in the form of “next-best-action” guidance, which makes automatic suggestions of what to do next based on the risk type, jurisdiction, and other criteria.